Karachi, September 24, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by directing companies to implement a 10 percent withholding tax on the issuance of bonus shares. This move comes as part of the government’s efforts to enhance tax collection and revenue generation.
(more…)Category: Top stories
Top stories featuring the most important and trending news updates from politics, business, world affairs, and breaking events across various sectors.
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PKR Poised to Maintain Upward Trajectory Against Dollar Starting September 25
Karachi, September 24, 2023 – The Pakistani Rupee (PKR) is expected to sustain its upward trajectory against the US dollar as it gains strength from robust export and remittance inflows and an optimistic outlook for the country’s economy.
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Citizens Risk Losing Electricity Connection for Failing to File Annual Tax Returns
Karachi, September 21, 2023 – Citizens in Pakistan may face disconnection of their electricity connection for failing to file their annual income tax return for the tax year 2023, according to sources within the Federal Board of Revenue (FBR).
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State-Owned Enterprises Report Annual Losses of Rs500 Billion, Says Finance Minister
Pakistan’s State-Owned Enterprises (SOEs) incurred significant annual losses of around Rs500 billion during the year 2022 due to inefficiencies and mismanagement, according to Dr. Shamshad Akhtar, the Caretaker Federal Minister for Finance, Revenue, and Economic Affairs.
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KTBA Chooses Not to Seek Date Extension Despite Return Filing Portal Issues
Karachi, September 21, 2023 – The Karachi Tax Bar Association (KTBA) has made the decision not to request an extension of the deadline for tax return filing, despite encountering glitches and issues on the online portal provided by the Federal Board of Revenue (FBR).
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State Bank of Pakistan Introduces Cash Slabs to Promote Remittances
Karachi, September 21, 2023 – The State Bank of Pakistan (SBP) announced the introduction of cash slabs as part of incentive schemes to promote remittances and encourage domestic financial institutions (FIs) to increase their marketing efforts for mobilizing home remittances through formal channels.
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PKR Extends Winning Streak Against Dollar for 12th Consecutive Session
Karachi, September 21, 2023 – The Pakistani Rupee (PKR) continued its remarkable winning streak for the 12th consecutive session against the US Dollar on Thursday, as the exchange market witnessed a gain of PKR 1.10 in the rupee’s value.
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Pakistan Briefs IMF on Economic Stabilization Measures
Islamabad, September 21, 2023 – Pakistan’s caretaker Prime Minister, Anwaar-ul-Haq Kakar, met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva in New York on the sidelines of the 78th UN General Assembly session to discuss the measures taken by the government to stabilize the country’s economy.
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Pakistan Raises Massive Rs 2.14 Trillion via Treasury Bill Auction
Karachi, September 20, 2023 – Pakistan secured a staggering Rs 2.14 trillion in funds through the sale of treasury bills during an auction conducted by the State Bank of Pakistan (SBP) on Wednesday.
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Pakistan Approves Establishment of Five Digital Retail Banks
Karachi, September 20, 2023 – The State Bank of Pakistan (SBP) has granted In-Principle Approval (IPA) for the establishment of five digital retail banks (DRBs), signaling a significant step in the country’s financial landscape.
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